Popular exchange Gemini announced support for the meme-inspired cryptocurrency on Wednesday, less than a day after eToro added it to its own online trading app.
The price of dogecoin hit a peak of $0.58, according to CoinMarketCap, and was trading just a couple of cents off that at the time of writing.
The cryptocurrency’s latest price surge was initially spurred on by Elon Musk announcing that he would host Saturday Night Live on 8 May with the words “The Dogefather”.
The SpaceX and Tesla CEO has frequently tweeted his support for the cryptocurrency in 2021, claiming that he does so because he “likes dogs and memes”.
Each of his tweets have caused the price to spike, and dogecoin investors are hoping its value will climb even higher if he mentions it on SNL.
Dogecoin’s huge gains – it was worth just two-tenths of a cent this time last year – means…